New rules impose a 24-month ban on private markets, cap equities at 60%, and set a 50–80% international allocation range.
ETF listings approved by the CCR reach 875 products
Asset managers are expanding their ETF footprint in anticipation of asset allocation shifts driven by Chile’s pension reform, positioning themselves for the transition to a generational fund structure.
Chile’s additional pension contribution will impact AFPs from 2028
Beginning in August 2025, Chile will initiate a gradual increase in employer-funded pension contributions; however, individual AFP accounts will see minimal impact at first.
Fund managers look ahead to FAPP mandates
Once the investment regime is defined, the Board of Directors of the Autonomous Pension Protection Fund (FAPP) will proceed to hold a bidding process for its portfolio.
Implementation of pension reform gets underway
An increase of one percentage point in participants’ contributions is scheduled for August this year, and the transfer of 10% of current participants should be completed by June 2028 following the result of the bidding process.



